The San Francisco 49ers on Tuesday announced a massive two-year extension for star running back Christian McCaffrey that is reportedly worth $38 million.
McCaffrey was already at the top of the running back market in average annual value of $16.02 million, dating back to the deal he signed with the Carolina Panthers before his trade to San Francisco.
Now, at $19 million per season, he remains a cut above the rest at his position.
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Christian McCaffrey of the San Francisco 49ers runs the ball to score in the second quarter against the Kansas City Chiefs during the Super Bowl at Allegiant Stadium on February 11, 2024 in Las Vegas. (Steph Chambers/Getty Images)
In his first full season with the 49ers, McCaffrey led the NFL in rushing with 1,459 yards in 16 regular season games with 21 total touchdowns (14 rushing, seven receiving). On the receiving end, he had 564 yards on 67 receptions.
Simply put, the offense runs through McCaffrey, who can do almost anything asked of him.
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So, with base salaries of $11.8 million and $12 million remaining on his contract with the Panthers for the 2024 and 2025 seasons, respectively, general manager John Lynch showed McCaffrey how much the team appreciates him.
With both contracts combined, McCaffrey will earn $62.2 million over the next four seasons, which averages out to $15.55 million, according to NFL Network.
McCaffrey will be 31 years old when his contract with the 49ers expires.
Christian McCaffrey (23) of the San Francisco 49ers celebrates with his teammates after scoring a touchdown during the second quarter against the Detroit Lions in the NFC Championship Game at Levi's Stadium on January 28, 2024 in Santa Clara , California. (Thearon W. Henderson/Getty Images)
The running back market has been in the news in recent seasons. Teams have not been willing to offer lucrative extensions to a position that can succeed with the rotation. McCaffrey got what he got from Carolina and gave other running backs hope to cash in as well.
We saw it this offseason with the Philadelphia Eagles signing free agent star Saquon Barkley to a three-year pact worth $12.583 million per season. And the Indianapolis Colts gave Jonathan Taylor the extension he was looking for, worth $14 million a year.
Josh Jacobs also received a four-year, $48 million contract with the Green Bay Packers, while Derrick Henry received a two-year contract worth $16 million with the Baltimore Ravens.
Christian McCaffrey of the San Francisco 49ers speaks to the media during opening night of Super Bowl LVIII at Allegiant Stadium on February 5, 2024 in Las Vegas. (Chris Unger/Getty Images)
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McCaffrey is clearly worth every penny the 49ers were willing to dish out. His versatility, strength and elusiveness make him arguably the best running back in the NFL.
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